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To do that, you have to make sure everyone knows that you have a property for rent. What’s the best way to do that? Technology has provided us with an easy way to advertise and market your home, and it’s important to use all the tools and resources that are available when you’re advertising your Barrie rental property.

ONLINE ADVERTISING FOR RENTAL PROPERTIES

Online advertising is crucial and will almost always deliver the best results. Nearly every potential tenant will begin their search for a new home on the internet. At Bayshore, we post all of our available listings on our website, which gets a lot of traffic. We have a rental portal where tenants looking for homes can see what we have available, scroll through pictures, and contact us for showings.

Hundreds of rental sites are also available online to tenants looking for properties, and we make sure to post listings on those as well. When we’re leasing your property, you can expect to see the home on Kijiji, Facebook Marketplace, and dozens of other classified sites and rental pages. We are part of several rental board groups, where we’re able to share your listing and get attention from prospective tenants.

Make sure you’re aggressive with online advertising. Hanging flyers and signs might get you some attention, but most of the great tenants you’re trying to reach are looking online.

HIGH QUALITY PHOTOGRAPHY AND VIDEOS

Photos of your rental properties are absolutely critical. They have to be high-quality, professional grade photos. Don’t snap some quick shots with your phone. Take the time to ensure you have the right lighting and you get the best angles. You’ll want to include pictures of things like the kitchen, the bathrooms, and the bedrooms. If there’s outside space, include a photo of that, and always have a picture of the front of the property. You should also have photos of any special features that will get your unit some attention. Maybe there’s a renovated bathroom or new appliances in the kitchen. Take photos of the large shower or the high ceilings.

Most prospective tenants will look at pictures first. They’ll also watch videos. Do a walk-through video of your property so people can really get a feel for how it’s laid out.

OFFERING A RENT-READY RENTAL HOME

The most important thing you can do when advertising your rental property is to make certain it’s rent-ready. Tenants will want to imagine themselves settling in immediately, so don’t advertise a home that isn’t ready for occupancy. The property is best advertised when it’s vacant so that everything can be cleaned out. Pay attention to details. Homes show better when there are window coverings and some nice curb appeal. Create an inviting and welcoming atmosphere so tenants get excited about your property.

If the home still has a tenant in it, you can still do some advertising and even some showings, just make sure it’s clean and staged. New paint, clean carpets, and a nice smell will always make an impact on prospective renters.

When you need help advertising your rental property, contact us at Bayshore Property Management. We’d be happy to be your resource.

The post Best Ways for Barrie Property Owners to Advertise a Rental Property appeared first on Mgroup.

While there are a lot of different ways to structure and collect property management fees, we want to tell you what you can generally expect from most local management companies, and we want to share some information about how we charge for our leasing and management services.

PAYING FOR LEASE-ONLY SERVICES

Many management companies will offer lease-only services. Under a contract such as this, you’re paying a professional company to find and place a qualified tenant in your Barrie rental property. The amount you pay will depend on the company and whether or not you’re using that same company for ongoing management. Most property managers will charge you either one flat fee for leasing services or a percentage of what you earn from the tenant who is placed.

At Bayshore Property Management, our lease-only cost is one month’s rent. So, if you earn $1,500 per month in rent, your leasing cost will be $1,500. In exchange for that fee, you can be sure we’ve secured you a great tenant. Our leasing services include:

• Advertising and marketing your property.
• Pricing your rental home accurately for the market and the tenant pool.
• Managing the showings and responding to tenant inquiries.
• Working with prospective residents on the application process.
• Screening tenants with thorough background checks.
• Collecting all move-in funds.
• Negotiating and executing the rental contract.

Leasing fees will always be lower if you’re using the same management company to provide full service property management.

ONGOING PROPERTY MANAGEMENT FEES

While the leasing fee is a one-time fee because a tenant is only placed once, the ongoing management fee will be paid as rent is collected or on a monthly basis. For full-service property management, owners can expect to pay an all-inclusive fee or they can pay for each service separately. When you’re discussing rates with a potential management company, make sure you understand what you’re paying for. It might seem like you’re getting a great deal when you encounter a low management fee. But, if you have to pay extra for everything, it might end up being more expensive than you realize.

At Bayshore, we require a 12-month management agreement for owners who want to work with us for full-service residential property management. We drop the leasing fee down to five percent of the annual management contract. Then, we charge $120 per month plus the Harmonized Sales Tax (HST). This applies to single-family homes, condos, semi-detached properties and multi-unit buildings.

With your management fee, you can expect:

• Rent collection.
• Lease enforcement.
• Maintenance coordination.
• Emergency responses 24 hours a day and seven days a week.
• Tenant relations.

This is just an overview of what you can expect to pay for professional Barrie property management and what you can expect in terms of service from our team. For more information and a specific discussion about the unique needs of your investments, please contact us at Bayshore Property Management.

The post What Can Rental Owners Expect to Pay for Barrie Property Management? appeared first on Mgroup.

Today, we’re sharing some best practices on how to effectively handle rental inspections and what you should be looking for when you’re inside the property.

CONDUCTING A MOVE-IN INSPECTION

Conduct a move-in inspection with your new tenant present. This will allow all parties to agree on the condition of the home. It will also give you the opportunity to show tenants what they need to know about the property. You can point out where the water heater is and how the window locks work.

Use a full form checklist as you’re going through the property with the tenant. Make a note of anything that needs to be repaired. Take pictures. Make sure your inspection report provides a thorough breakdown of each room. Look at every detail from window covers to paint condition. Note the carpets and check off that you’ve tested each appliance to make sure they work.

CONDUCTING ANNUAL INSPECTIONS

While the move-in inspection is important so you can document the condition of the property, an annual inspection is important for a couple of different reasons. First, you’ll again be looking for anything that needs to be repaired, replaced, or addressed. Your tenants should understand the importance of reporting maintenance needs immediately. But, there may be some problems that they haven’t noticed or they’ve hesitated to report. Check under sinks for signs of leaks or water damage. Make sure the appliances and systems are working. Test the electricity and the heating and cooling system. Look for any safety or health issues that may need attention, such as broken smoke detectors, damaged locks, or uneven stairs or steps.

The second reason you want to conduct an annual inspection is to make sure your tenants are following the terms of your rental contract and performing the way you expect them to. Look for signs of unauthorized pets or residents. Make sure the property is clean and in good condition.

INSPECTION CHECKLISTS AND ACTION ITEMS

Each inspection should include a checklist and a final inspection report, which needs to have pictures and other documentation. If you discover, during the course of the inspection, that work needs to be done, create an action item list and check things off as they are completed. Get in touch with vendors, contractors, and other professionals who can help you.

These inspections are important to the care of your property and to hold your tenants accountable. It’s important that they are done consistently, thoroughly, and with the documentation you need to support any decision you make about the tenancy.

We have a lot of experience with rental property inspections. If you have any questions about conducting them or you’d like more information about professional Barrie property management, please contact us at Bayshore Property Management.

The post The Best Way to Handle Inspections of a Barrie Rental Property appeared first on Mgroup.

Preventative maintenance is equally important, and something that you need to pay attention to if you want to protect the condition of your investment and provide a well-maintained home for your best tenants.

MOVE-IN AND ANNUAL INSPECTIONS

Performing property inspections before, after, and during the lease period is critical. At Bayshore Property Management, we suggest owners do full inspections consistently. During the move-in inspection, you want to document the condition of your property and look for anything that may need to be fixed or replaced before your tenant takes possession. This is also a good time to take care of preventative maintenance issues. Have the heating and cooling unit inspected and serviced by a qualified technician. Check the appliances and the plumbing. Make sure the electric outlets are all working.

Your annual inspection should include making sure everything works properly. Look for signs of tenant damage and talk to your tenant about any unreported or deferred maintenance items that need attention. You also want to make sure your tenant is following the terms of your lease agreement.

If you notice that something needs attention during these inspections, handle it right away. Small problems are easier to fix and a lot less expensive than the major problems that can result from leaving a repair need unmet.

TRAINING AND COMMUNICATING WITH TENANTS

It’s important that your tenants understand what is expected of them when it comes to maintaining your property and reporting problems. The responsibilities of tenants depend on the rental home and the owner. You might want your tenants to take care of landscaping and lawn care themselves, or you might want to hire a professional service. In most cases, tenants are at least responsible for keeping the home in good shape and making small repairs like replacing light bulbs and paying for utilities. Decide what you want your tenants to do and what should be left to professionals.

Communicate well with your tenants if you want to keep your property maintained. Make sure they understand that it’s necessary to report any problems or maintenance issues right away. They should always know how to contact you or your property manager.

PREVENTATIVE MAINTENANCE AND PROFESSIONAL BARRIE PROPERTY MANAGEMENT

There are a lot of excellent reasons to work with a professional property management company in Barrie, but one of the best reasons is to ensure your asset and its value is protected. A good property manager will take care of all maintenance, including preventative maintenance.

We maintain a $500 reserve for owners before reaching out. We know you don’t want to be bothered with approving minor repairs, but we’ll never authorize a large project without discussing it with you.

Our maintenance services are also customized to meet your unique needs. We have no problem tweaking what we do for specific owners and their tenants. We also own a construction company, which means all repairs, turnovers, and assessments are done efficiently and at the lowest possible cost. You’ll never be waiting for a vendor’s schedule to clear so you can finally get a roof repaired or a water heater replaced.

We offer preferred pricing and in-house maintenance staff for everything your rental property may need. If you have any questions about preventative maintenance, please contact us at Bayshore Property Management.

The post Performing Preventative Maintenance on Your Rental Property appeared first on Mgroup.

Remember that when dealing with tenants who are causing problems, you must remain professional. It can be difficult not to get emotional, but remaining calm and following systematic processes will help you have a successful outcome.

We have some tips on what you should do when a good tenant goes bad.

PREEMPTIVE MEASURES: TENANT SCREENING AND COMMUNICATION

Do your best with a rigorous, consistent tenant screening process. If you thoroughly check for criminal backgrounds, bad credit, and negative responses from former landlords, you will be able to protect yourself against potential disasters. Verify employment and income and make sure the tenant has good references before you approve the application.

Communication is also helpful. If you can establish a good relationship with your tenants from the start of the lease period, they may feel more comfortable coming to you when they are having problems. When you and your tenant are honest and transparent with one another, things don’t have to escalate into catastrophes. Make positive and proactive communication a priority.

DOCUMENT EVERYTHING

Documentation is always important when we’re talking about property management and landlord/tenant relationships. It’s especially important when you have a tenant who isn’t paying rent or following the terms of your lease. Make sure you document every phone call and each attempt at resolving whatever issue is causing problems. Keep copies of letters and notices that you send. Maintain a timeline that demonstrates what the tenant has done or not done, and make sure you have a good, strong lease in place. This can protect you if you need to use the courts to remove your tenant.

GET SOME PROFESSIONAL PROPERTY MANAGEMENT HELP

If you have a tenant who is not paying rent or causing property damage or being a nuisance to the neighbors, we recommend you get immediate help from an attorney or a professional Barrie property management company. If you suspect illegal activities are occurring or your tenant has become hostile or non-responsive, you need to turn this over to a professional who has experience with these sorts of situations.

Our team includes a paralegal who takes care of the lease enforcement and any landlord/tenant legal issues that may come up during the course of a tenancy. It’s helpful to have the tools and the resources directly from our office to take care of these problems. We also understand the court process and what we need to do if an eviction or other legal action becomes necessary.

Even if you’re an experienced landlord, you shouldn’t feel like you have to deal with a terrible tenant on your own. Let us use some of our expertise to resolve the issue for you and restore your investment property to the successful, well-maintained home that we know you want to provide for good tenants.

Contact us at Bayshore Property Management, and let’s talk about how we can help.

The post What Can Barrie Landlords Do When a Good Tenant Turns Bad? appeared first on Mgroup.

Make sure you’re working with an expert who knows the market and the industry. You want someone with local experience and global resources.

At Bayshore Property Management, we believe we’re your best property management solution in Barrie. Whether you need help renting out a home that you once lived in or you have a portfolio of single-family homes that need some help reaching their full potential, we’re here to drive up ROI and provide you peace of mind. We pride ourselves on the commitment and level of expertise we are able to offer.

BAYSHORE PROPERTY MANAGEMENT EQUALS PEACE OF MIND

We take a full-service approach to managing your real estate assets. Our team of talented and experienced property managers has spent their careers learning how to manage homes more efficiently and effectively. The team you work with today is the result of over 30 years of measured growth and direct management experience.

As one of the largest property management companies north of the GTA, we have the capacity to ensure your property is being well-maintained and protected. We also have the tools, resources, and systems to manage the full investment cycle in-house. Most investors do not have the time or the knowledge to manage their real estate investments effectively. Our services are designed to provide our clients with peace of mind and the highest net return possible. Let us do what we do best, so you have the time to do what you do best.

CUSTOMIZED PROPERTY MANAGEMENT IN BARRIE

All of our property management services are completely customizable. We know that all properties are different, and all owners are different, too. There is no one-size-fits-all plan for managing an investment property. At Bayshore Property Management, you have as much input as you want when it comes to what goes on with your properties. We’re here to facilitate better results.

We can provide leasing services or full-service property management plans, or If you need us to manage a condo, we have the required real estate licenses to handle that expertly too.

WHAT MAKES BAYSHORE PROPERTY MANAGEMENT DIFFERENT?

Our company has been managing investment homes in and around Barrie since 1982. We’ve worked hard to develop a positive reputation in our community and in the industry. We now manage more than 6,000 rental units and at property management rates that are competitive. We’re committed to transparent pricing, and we’re confident you won’t find better value and more comprehensive services.

You have a lot of choices when it comes to finding property management in Barrie. We believe we’re your best option when you care about earning more, spending less, and having a better investment experience.

Our team has earned some of the best business awards in our area. We’re proud of the work we do and the people we serve. If you’d like to hear more about how we can help you, please contact us at Bayshore Property Management. We’d love to work with you.

The post Giving Barrie, Ontario Rental Owners Peace of Mind appeared first on Mgroup.

The experience and efficiency that a professional property manager brings to the table could give your property the edge in a competitive market. It’s good to ask a prospective management company: “What is your average turnover rate?” Their answer will help you determine if you could benefit from their experience in this area.

The reality is that strong tenant retention numbers don’t just happen, they are the result of consistent, quality service and a pre-planned tenant retention program. A tenant retention program can start small and can include inexpensive things like seasonal greeting cards and minor amenities that let tenants know management cares.

Tenant satisfaction means longer tenancies and happier tenants that have fewer disputes and complaints. Keep reading for a list of questions for property management companies about their tenant retention programs.

The post Find And Keep Good Tenants appeared first on Mgroup.

We have a few important things that you should always include in your tenant screening process.

CREDIT CHECKS PAINT A FINANCIAL PICTURE

We recommend that you start with a credit check. Looking at an applicant’s credit history can disqualify someone right away, especially if there are bankruptcies or a history of unpaid housing bills. Perfect credit would be nice, but it is not necessary. Just make sure it’s a manageable amount of debt that your prospective tenant has, and that there aren’t any overdue or unpaid utility or landlord bills. You don’t want to see prior evictions or court judgments for unpaid rents.

ASK FOR PERSONAL AND LANDLORD REFERENCES

Collecting reference information is always a good idea. It’s unlikely that you’ll have someone provide a reference that isn’t going to say positive things, but you want to get an idea of why your applicant would make a good tenant. If you talk to a reference and you find out the tenant volunteers for social organizations or has a leadership role in a community program, you’ll feel better about having that individual in your rental home.

Landlord references are crucial. Always talk to current and former landlords. Make sure you have the correct contact information and make a point of asking these questions:

• Did the tenant pay rent on time?
• Did the tenant leave behind any property damage?
• Were there any complaints about the tenant from neighbors or law enforcement?
• Would you rent to this person again?

VERIFY INCOME AND EMPLOYMENT

We always require a documented form of income verification. We want to make sure that the tenants earn enough to pay rent on time. If your prospective tenant cannot provide any proof of income, ask for bank statements or tax records that indicate how much he or she earns.

You want to verify employment as well. Talk to the applicant’s supervisor or get a letter of employment in writing.

CONDUCT PERSONAL SHOWINGS

These days, it’s popular to allow tenants to use a lockbox and visit properties on their own. But, we like to be there for showings. Not only does it give us the opportunity to answer any questions and provide additional information, we also get to do a little pre-screening. We can get a better feel for people when we meet with them in person. Find out why they are moving and when they want to move in. This helps you to establish a good relationship with your future tenants.

These are just a few of the tenant screening tips we have. If you’d like to hear more about how we screen our prospective tenants, please contact us at Bayshore Property Management.

The post Important Things to Consider in Screening a Tenant in Barrie appeared first on Mgroup.

There are a lot of excellent reasons for Barrie real estate investors to work with a professional management company. Today, we’re highlighting just a few of the things that a good manager can do for you and your investment.

PROTECT YOUR RENTAL PROPERTY

With regular inspections and an excellent tenant screening process, an experienced Barrie property manager will keep your property safe from abuse, neglect, and damage. You won’ have to worry about finding the time to respond to routine maintenance, and you won’t have to worry about tracking down a reliable and cost-effective vendor when there’s a maintenance emergency in the middle of the night. Your property manager will handle any repairs that need to be done, and you’ll have access to their list of preferred vendors, who are licensed, insured, and committed to providing a high standard of workmanship.

Preventative maintenance is another hallmark of good property management. We know that no maintenance problem ever became easier with time. We take care of small issues before they become complicated and expensive disasters, and we’re always sure to inspect, service, and prepare your home’s systems for seasonal changes. All of this contributes to the protection of your property. Professional managers can do it much better and for less money than can individual landlords.

PROTECT RENTAL PROPERTY OWNERS

We don’t only protect your property, we protect you as well. Real estate investors know that rental property can be a lucrative and rewarding investment. However, it can also be fraught with liability and unexpected costs. The best way to manage risk is with a professional management company. We know the laws, and we make sure you and your property are compliant. We educate ourselves throughout the year, and we stay up to date on all the changing regulations and requirements. Our entire team is committed to professional development, and we understand the Residential Tenancies Act.

We protect your time as well. You won’t have to be the person who responds to every tenant phone call. We are the point of contact, and we manage the tenant relationship. It creates a nice buffer between the investor and the property.

ASSET MANAGEMENT

Finally, professional property managers partner with owners to grow the ROI that their investments can provide. Your property manager should do more than place tenants and collect rent. You want someone who knows the market well and who can help you make good decisions that lead to higher profits. Make sure you’re working with a management company that’s committed to raising your income and reducing your expenses. You have a lot of potential to earn more ROI when you work with professionals. We understand the market and the needs and desires of tenants. We can help you be more effective with pricing, marketing, leasing, and retaining great residents.

These are just a few of the things that professional property managers can do to make your real estate investment experience a better one. Contact us at Bayshore Property Management, and we’ll tell you more.

The post What Does a Barrie Property Management Company Do? appeared first on Mgroup.